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Loan Officers Seek Overtime Compensation

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Case ID: 4077 | Employment | 12/20/2004

A class action lawsuit has been filed in the Middle District Court of Florida against Global Executive Mortgage, Inc., a Florida-based mortgage company, for violations of the Fair Labor Standards Act (FLSA) which establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments. Class members seek unpaid minimum wages, overtime compensation, damages, attorneys' fees and costs of the litigation.

Specifically, the complaint alleges that during a three (3) year period preceding the filing of the complaint, Global has employed non-exempt loan officers to respond to inquiries from potential customers seeking mortgage loans and has a policy and practice to compensate them solely by commissions earned, without providing a minimum guarantee or overtime compensation.


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